product · May 20, 2026
Atlassian Reports 31 Percent Year-Over-Year Revenue Growth in Q3 Driven by Cloud and AI Features
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Atlassian reported 31 percent year-over-year revenue growth for Q3 2026 supported by faster cloud adoption and new AI features including Atlassian Intelligence plus enterprise tools Flex and Teamwork Graph. The company is midway through a major cloud migration that phases out on-premise server licenses, with 28 percent of revenue still from on-premise customers and 30 percent cloud revenue growth from migrations and seat expansion. Cloud shift enables faster rollout of features like Atlassian Intelligence and supports pricing increases for added value. Atlassian stock closed at $87.46 with an estimated fair value of $204.74 representing a 57.3 percent undervaluation.
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